WSG Club Alert: ECTE Technical Analysis Very Bullish with $3.00 Price Target







 
 
Wall Street Grand Report   
 
 
Company: Echo Therapeutics, Inc. (OTCBB: ECTE)
Current PPS: $2.02
 
Just one month ago Boenning & Scattergood a highly reputable research firm since 1914 issued a great research report on ECTE that I highly recommend everyone look over tonight which gave ECTE a price target of $3.00!!! Check it out- http://www.outcasttrader.com/wp-content/uploads/2009/12/ECTE-Initiation-Boenning.pdf 
 
Furthermore, ECTE‘s technicals are extremely bullish. Take a look at the chart -
 
 
Go to this link to see how StockTA gave ECTE an overall VERY BULLISH signal- http://www.stockta.com/cgi-bin/analysis.pl?symb=ECTE&num1=1&cobrand=&mode=stock 
 
Some recent highlights we came across-
  • The last hour close above 5 hour moving average
  • New 5 day high
  • Last price above 20 day moving average
  • MACD very bullish above"0" line
  • RSI rising above 70 line
  • Volume steadily increasing showing consistent demand
  • Stochastic suggesting breakout
  • New 3 week high
  • New 3 month high in January
ECTE almost has a perfect BUY from barchart-
 
Date Open High Low Last Change Volume % Change
01/12/10 1.8700 2.0400 1.8500 2.0200 +0.1900 348938 +10.38%

 

Composite Indicator  
   Trend Spotter TM Buy  
 
Short Term Indicators  
   7 Day Average Directional Indicator Buy  
   10 – 8 Day Moving Average Hilo Channel Buy  
   20 Day Moving Average vs Price Buy  
   20 – 50 Day MACD Oscillator Buy  
   20 Day Bollinger Bands Buy  
 
Short Term Indicators Average:   100%Buy
20-Day Average Volume – 69722
 
Medium Term Indicators  
   40 Day Commodity Channel Index Buy  
   50 Day Moving Average vs Price Buy  
   20 – 100 Day MACD Oscillator Buy  
   50 Day Parabolic Time/Price Buy  
 
Medium Term Indicators Average:   100%Buy
50-Day Average Volume – 43603
 
Long Term Indicators  
   60 Day Commodity Channel Index Buy  
   100 Day Moving Average vs Price Buy  
   50 – 100 Day MACD Oscillator   Sell
 
Long Term Indicators Average:   33% – Buy
100-Day Average Volume – 28593
 
Overall Average:   88%Buy
 
Price Support Pivot Point Resistance
 
2.0200 1.7800 1.9700 2.1600
 
 
As you can see the technicals look phenomenal on ECTE and we are looking for this one to trend higher this week.
 
Make sure to read over the research report giving ECTE a $3.00 price target! 
 
I expect tomorrow to be a big day and the momentum to continue into the end of the week.
 
More Updates To Come …
  
 
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Wall Street Grand’s stock profiles are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this profile was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. Never invest into a stock we discuss unless you are prepared to lose your entire investment. The picks in this alert are priced at their highs since our original profile. Past performace is not an indicator of future returns. WSG was compensated $25,000 for profile coverage of ECTE by a third party, (GreenHorshoe Holdings Inc.). WSG may or may not trade the stocks mentioned in this alert which can effect the price of the
stock. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Everything stated in WSG alerts are based on my opinion. For our full disclosure please visit- http://www.wallstreetgrand.com/disclosure.html

 




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